Honolulu-based South Pacific Development Group Wednesday revealed plans to develop a $500 million luxury resort on 600 acres of prime oceanfront land on the Samoan island of Savaii.
The Sasina Village Resort's first phase will feature a hotel, timeshare units, a championship golf course and a cultural center. Later phases will include additional hotels, private residences and a recreational marina, the company said.
The overall development cost is estimated at $450 million to $500 million; no timeframe has been set.
SPDG CEO Jesse James and Faumuina Liuga Tiatia, Samoa's minister of natural resources and environment, recently signed a 120-year land lease agreement for the property. The size of the acreage and duration of the lease is unprecedented in Samoa, the two noted.
"These transactions successfully demonstrate our company's ability to be a leading player in an area destined to emerge as one of the South Pacific's most sought-after tourist destinations," said James.
SPDG said it is meeting with potential hotel partners, co-developers and investors interested in having a financial stake in its projects.
"There's been a tremendous amount of interest," said James. "Our potential partners sense that Samoa's unique cultural appeal and tropical beauty are about to be discovered by travelers yearning for a destination that offers the rewards of ecotourism and cultural tourism and the South Pacific's romantic allure."
Sasina is located on Savaii's rural north shore and is known for its adherence to historical Samoan traditions. The village has additional acreage of pristine land set aside for development on which SPDG has first right of refusal.